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Law No. 34 Of 25 February 1999

Original Language Title:  LEGE nr. 34 din 25 februarie 1999

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LEGE no. 34 34 of 25 February 1999 on the ratification of the Loan Agreement between Romania and the European Investment Bank and the National Road Administration (A.N.D.) for the financing of the Road Rehabilitation Project, Phase III, signed in Luxembourg on 21 July 1998 and at Bucharest on 24 July 1998
ISSUER PARLIAMENT
Published in OFFICIAL MONITOR no. 81 81 of 26 February 1999



The Romanian Parliament adopts this law + Article 1 The Loan Agreement between Romania and the European Investment Bank and the National Road Administration (A.N.D.), amounting to ECU 225 million equivalent, for the financing of the Road Rehabilitation Project, Phase III, signed in Luxembourg on 21 July 1998 and in Bucharest on 24 July 1998. + Article 2 (1) The Romanian Government is authorized that, through the Ministry of Finance, in agreement with the European Investment Bank, to introduce, during the loan, in relation to the concrete conditions of the loan agreement, amendments to the its content that concerns reallocations of funds, changes in the structure of the loan by category and components, changes of deadlines, as well as any other changes that are not likely to increase Romania's financial obligations to European Investment Bank or to determine new economic conditionings over those originally agreed between the parties. (2) The Romanian Government will periodically report to the Romanian Parliament about the amendments introduced, within the framework of the Report on Romania's external public debt + Article 3 (1) The funds necessary to repay the loan, to pay interest, commissions and other costs related to the loan will be provided from the state budget, through the budget of the Ministry of Transport. ((2) Contribution with funds of the Romanian side (consisting of the value of taxes and fees charged on the territory of the country-T.V.A., customs duties-as well as other local costs of the same nature, which cannot be paid from the external loan) to the implementation of investment works, financed by the European Investment Bank loan referred to in art. 1, will be provided from the Special Public Road Fund. This law was adopted by the Senate at the meeting of December 28, 1998, in compliance with the provisions of art 74 74 para. (2) of the Romanian Constitution. p. SENATE PRESIDENT, CRISTIAN DUMITRESCU This law was adopted by the Chamber of Deputies at its meeting on February 2, 1999, in compliance with the provisions of 74 74 para. (2) of the Romanian Constitution. p. CHAMBER OF DEPUTIES PRESIDENT, ADRIAN NASTASE AGREEMENT 24/07/1998